Investment Minister briefs US officials on reform measures

US Under-Secretary of State Robert Zoelick hailed the recent steps towards political, economic reforms and trade liberalization in Egypt, a senior Egyptian official said on Friday.

Emerging from talks with Zoelick in Washington, Minister of Investment Mahmoud Mohieddin said that talks touched on efforts to promote relations between Cairo and Washington.

Mohieddin referred to Zoelick's appreciation for President Hosni Mubarak's recent announcement on making constitutional amendments, allowing more than one candidate to run for presidency.

Mohieddin also met with Elizabeth Cheney, the US Under-Secretary of State for the Far East, for talks on bilateral economic relations.

Mohieddin stressed the importance of benefiting from the signing of the Qualified Industrial Zone (QIZ) agreement, which allows duty-free Egyptian products with Israeli components into US markets.

He also referred to the positive outcome of the meeting of the US-Egyptian trade and investment council.

The two sides' talks also took up other regional issues of bilateral cooperation, including the initiative by the Group of Eight of the industrialized nations on the Middle East.

Also, Mohieddin, Governor of Central Bank of Egypt (CBE) Farouq Al-Uqda and Egyptian Ambassador in Washington Nabil Fahmy met with senior officials in the State Department, the Treasury and the US Agency for International Development (USAID).

The talks further dealt with developments of Egypt's economic reform program and developing financial policies in Egypt.